Jan 18, 2021

HSBC CEO expresses regret to Hong Kong activist over frozen bank accounts

Noel Quinn, HSBC chief executive, personally wrote to a Hong Kong pro-democracy activist to express regret after the bank froze his bank account, in a sign of the challenges that companies are facing in the Chinese territory. HSBC froze the bank accounts of Ted Hui, a former lawmaker who fled to the UK and is under investigation by Hong Kong authorities for allegedly violating a new national security law, and those of his family in December. The HSBC CEO also apologised over confusing messages from the bank. Mr Hui rejected Mr Quinn's argument, which the former lawmaker said was the first proper explanation from the bank since the accounts were suspended. Mr Hui said Hong Kong authorities were using the law to suppress opposition.

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